The difference is a flat planing surface. The displacement hull has "rocker", it is bowed in the fore to aft axis. This gives it stability in rough seas. Planing hulls may be bowed in the front, but the keel is straight usually from amidships to the stern. A displacement hull is limited to hull speed, no matter how much horsepower is used to push it, and for the kind of boats we're hunting out of, this is less than 10 mph. You could put an Optimax on the back of a canoe, it will not plane and it will not exceed hull speed, it will just dig deep into the water and push a huge wave in front of it very slowly.
Ed.